Foyston Gordon & Payne Inc Buys 5,145 Shares of American Express Company $AXP

Key Points

• Foyston Gordon & Payne Inc increased its holdings in American Express by 12.5%, acquiring an additional 5,145 shares, bringing their total to 46,155 shares worth approximately $12.4 million.
• American Express reported earnings per share of $4.08 in its latest quarter, exceeding estimates, with revenues of $17.86 billion, representing a 9.3% year-over-year increase.
• The company recently paid a quarterly dividend of $0.82 per share, reflecting an annualized yield of 1.1%, with a payout ratio currently at 23.02%.

Foyston Gordon & Payne Inc lifted its holdings in American Express Company (NYSE:AXP - Free Report) by 12.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 46,155 shares of the payment services company's stock after buying an additional 5,145 shares during the quarter. American Express makes up 3.1% of Foyston Gordon & Payne Inc's portfolio, making the stock its 11th biggest position. Foyston Gordon & Payne Inc's holdings in American Express were worth $12,418,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in American Express by 2.5% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 73,156 shares of the payment services company's stock valued at $19,683,000 after purchasing an additional 1,789 shares during the last quarter. Roberts Capital Advisors LLC bought a new stake in American Express in the 1st quarter valued at about $609,000. Tyler Stone Wealth Management increased its stake in American Express by 4.8% during the 1st quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock valued at $213,000 after buying an additional 36 shares during the period. Raymond James Financial Inc. increased its stake in American Express by 5.1% during the 1st quarter. Raymond James Financial Inc. now owns 1,034,409 shares of the payment services company's stock valued at $278,307,000 after buying an additional 50,277 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC increased its stake in American Express by 41.3% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 15,074 shares of the payment services company's stock valued at $4,056,000 after buying an additional 4,408 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. Morgan Stanley raised their target price on shares of American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. William Blair reissued an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Finally, Barclays raised their target price on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $311.05.

American Express Trading Down 0.3%

Shares of AXP traded down $0.9370 during midday trading on Tuesday, hitting $306.1130. The stock had a trading volume of 2,215,219 shares, compared to its average volume of 2,366,112. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The business has a 50-day simple moving average of $307.46 and a two-hundred day simple moving average of $290.01. The firm has a market cap of $213.02 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.28. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $3.49 earnings per share. As a group, equities analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a $0.82 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. American Express's dividend payout ratio (DPR) is currently 23.02%.

Insider Activity

In related news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the transaction, the insider owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the sale, the insider directly owned 9,001 shares in the company, valued at $2,677,527.47. This trade represents a 87.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,219 shares of company stock valued at $40,555,901 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.